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Dec 31, 2024
IDEAYA Q4 2024 Earnings Report
IDEAYA Biosciences reported financial results for the fourth quarter and full year ended December 31, 2024, and provided a business update.
Key Takeaways
IDEAYA Biosciences reported a net loss of $130.3 million for the three months ended December 31, 2024. As of December 31, 2024, IDEAYA had cash, cash equivalents and marketable securities of approximately $1.1 billion, anticipated to fund operations into at least 2028.
Over 230 patients enrolled in potential registration-enabling trial in 1L HLA-A2-negative MUM, and median PFS readout targeted by year-end 2025.
95 patients enrolled in neoadjuvant UM trial and targeting clinical data and regulatory update(s) in H1 2025, including vision data in plaque brachytherapy patients.
Ph1 initiated for Werner Helicase IDE275 (GSK959) and received $7 million milestone from GSK, and targeting medical conference update in H1 2025.
IDEAYA entered into an exclusive global license agreement for IDE849 outside of Greater China with Jiangsu Hengrui Pharmaceuticals Co., Ltd. (Hengrui Pharma) in December 2024.
Revenue by Segment
Forward Guidance
IDEAYA is targeting multiple clinical data readouts and program updates across its clinical pipeline in 2025.
Positive Outlook
- Targeting median progression free survival (PFS) readout for Phase 2/3 registration-enabling trial of the darovasertib and crizotinib combination in 1L HLA-A2-negative MUM by year-end 2025.
- A clinical update in over 75 patients in the Company-sponsored Phase 2 trial and regulatory update(s) is targeted for the first half of 2025, including vision data in plaque brachytherapy patients.
- Targeting Phase 1/2 expansion in the first quarter of 2025 and clinical data update for IDE397 in combination with Trodelvy® in MTAP-deletion UC in 2025.
- IDEAYA plans to enable wholly-owned IDE397 combination with IDE892 in patients with MTAP-deletion non-small cell lung cancer (NSCLC) in the second half of 2025.
- Data highlighting IDE275's differentiated potential best-in-class profile will be presented with GSK at a medical conference in the first half of 2025.
Challenges Ahead
- IDEAYA and Amgen mutually agreed to wind down the IDE397 and AMG 193 clinical combination study in February 2025, and will not pursue dose expansion.
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